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When GE pays local taxes on purchases they get to write them off as an expense.
When their workers pay local taxes on purchases they do not get to write them off.
When GE pays local real estate taxes, it gets to write them off their bottom line and therefore their taxes.
When GE's workers pay the same taxes, few of them get to write them off because they don't make enough money to enjoy that write off.
When the CEO of GE takes his limo to work GE gets to write off the expense as a cost of doing business.
When his workers drive the cars they bought and paid for (and get taxed like crazy to own and operate, too) they don't get to write that off, either, again because so few of them make enough to itemize their taxes.
I could goo and on citing one example after the other where corporations( mostly by dint of the enormous size of their returns) enjoy TAX breaks few of their workers enjoy.
DEclaing that the rich pay the majorioty of the taxes its taking to keep our society afloat is a big fat LUE by half truth.
A technique of foisting a lie that the supply siders have honed to perfection.
Who really pays most of the taxes that keeps our federal state and local governments going?
The middle class BY FAR, the middle class.
The font of ALL wealth in this nation, folks.
The MIDDLE CLASS.
They get to write it off indirectly through a Standard Deduction. If you don't spend enough to itemize, what's the difference?
Oh, and you need to support your claims with links instead of just saying it's so, especially when they go against the facts so glaringly.
I'd like to see proof that the federal government is oppressing corporate America with corporate tax rates so damn high that these businesses are forced to outsource jobs to China and Mexico. The rightwing morons have been stating this lie repeatedly in all of their speeches yet the evidence shows that businesses have been flourishing, even making huge profits while paying virtually no federal taxes and even getting returns.
America's 2-class tax system | Philadelphia Inquirer | 04/17/2011
"We'll know our disinformation program is complete when everything the American public believes is false."
A rare moment of honesty for rightwing Republitards.
One of the more egregious falsehoods being peddled by the corporate tax cutters is that companies doing business in the United States are taxed at an exorbitant rate. Not so. Though the United States has one of the highest statutory rates on the books at 35 percent, the only fair way to measure what companies actually pay is their effective rate - what they ultimately pay after deductions, credits, and assorted write-offs. By that yardstick, companies in the United States consistently pay taxes at rates lower than corporations in Japan and many nations in Europe.
During the 1950s, the decade in which more people joined the middle class than at any time in history - before or since - corporations paid 49 percent of their profits in taxes. Last year, it was about half that rate, a decidedly more modest 26 percent. In 2010, corporate tax collections totaled $191 billion - down 8 percent from $207 billion as recently as 2000.
Perhaps a more telling yardstick, corporate tax revenue in 2009 came to just 1 percent of gross domestic product - the lowest collection level since 1936, or three-quarters of a century ago. In 2010, it edged up to a puny 1.3 percent - the second-lowest since 1940. Even worse, the shriveled tax collections came at a time when corporations were registering an all-time high in profits. At the end of 2010, corporations posted an annualized profit of $1.65 trillion in the fourth quarter. In other words, the more they made, the less they paid.
As for the corporate share of total income taxes paid by businesses and individuals, it has plummeted from 40 percent in 1950, the dawn of Middle America's golden age, to 18 percent last year.
The numbers tell us that a lot of politicians, including would-be presidential candidates, are mathematically challenged.
The corporate numbers also explain why hardworking Americans are on a greased downward slope from which they are unlikely to recover, as long as the lawmakers and deal-makers in Washington not only refuse to ease their plight, but also continue to pile on, compelling them alone to pay for the country's massive deficit while simultaneously chipping away at their safety nets.
You rightwing, deluded morons have made it painfully hard to defend tax cuts and what simply amounts to corporate welfare, for big business, I seriously believe that the only reason you jackasses continue to defend and promote lies is just to save face from telling the American people they've been bamboozled and hoodwinked.
America's 2-class tax system | Philadelphia Inquirer | 04/17/2011
"We'll know our disinformation program is complete when everything the American public believes is false."
A rare moment of honesty for rightwing Republitards.
One of the more egregious falsehoods being peddled by the corporate tax cutters is that companies doing business in the United States are taxed at an exorbitant rate. Not so. Though the United States has one of the highest statutory rates on the books at 35 percent, the only fair way to measure what companies actually pay is their effective rate - what they ultimately pay after deductions, credits, and assorted write-offs. By that yardstick, companies in the United States consistently pay taxes at rates lower than corporations in Japan and many nations in Europe.
During the 1950s, the decade in which more people joined the middle class than at any time in history - before or since - corporations paid 49 percent of their profits in taxes. Last year, it was about half that rate, a decidedly more modest 26 percent. In 2010, corporate tax collections totaled $191 billion - down 8 percent from $207 billion as recently as 2000.
Perhaps a more telling yardstick, corporate tax revenue in 2009 came to just 1 percent of gross domestic product - the lowest collection level since 1936, or three-quarters of a century ago. In 2010, it edged up to a puny 1.3 percent - the second-lowest since 1940. Even worse, the shriveled tax collections came at a time when corporations were registering an all-time high in profits. At the end of 2010, corporations posted an annualized profit of $1.65 trillion in the fourth quarter. In other words, the more they made, the less they paid.
As for the corporate share of total income taxes paid by businesses and individuals, it has plummeted from 40 percent in 1950, the dawn of Middle America's golden age, to 18 percent last year.
The numbers tell us that a lot of politicians, including would-be presidential candidates, are mathematically challenged.
The corporate numbers also explain why hardworking Americans are on a greased downward slope from which they are unlikely to recover, as long as the lawmakers and deal-makers in Washington not only refuse to ease their plight, but also continue to pile on, compelling them alone to pay for the country's massive deficit while simultaneously chipping away at their safety nets.
You rightwing, deluded morons have made it painfully hard to defend tax cuts and what simply amounts to corporate welfare, for big business, I seriously believe that the only reason you jackasses continue to defend and promote lies is just to save face from telling the American people they've been bamboozled and hoodwinked.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
America's 2-class tax system | Philadelphia Inquirer | 04/17/2011
"We'll know our disinformation program is complete when everything the American public believes is false."
A rare moment of honesty for rightwing Republitards.
One of the more egregious falsehoods being peddled by the corporate tax cutters is that companies doing business in the United States are taxed at an exorbitant rate. Not so. Though the United States has one of the highest statutory rates on the books at 35 percent, the only fair way to measure what companies actually pay is their effective rate - what they ultimately pay after deductions, credits, and assorted write-offs. By that yardstick, companies in the United States consistently pay taxes at rates lower than corporations in Japan and many nations in Europe.
During the 1950s, the decade in which more people joined the middle class than at any time in history - before or since - corporations paid 49 percent of their profits in taxes. Last year, it was about half that rate, a decidedly more modest 26 percent. In 2010, corporate tax collections totaled $191 billion - down 8 percent from $207 billion as recently as 2000.
Perhaps a more telling yardstick, corporate tax revenue in 2009 came to just 1 percent of gross domestic product - the lowest collection level since 1936, or three-quarters of a century ago. In 2010, it edged up to a puny 1.3 percent - the second-lowest since 1940. Even worse, the shriveled tax collections came at a time when corporations were registering an all-time high in profits. At the end of 2010, corporations posted an annualized profit of $1.65 trillion in the fourth quarter. In other words, the more they made, the less they paid.
As for the corporate share of total income taxes paid by businesses and individuals, it has plummeted from 40 percent in 1950, the dawn of Middle America's golden age, to 18 percent last year.
The numbers tell us that a lot of politicians, including would-be presidential candidates, are mathematically challenged.
The corporate numbers also explain why hardworking Americans are on a greased downward slope from which they are unlikely to recover, as long as the lawmakers and deal-makers in Washington not only refuse to ease their plight, but also continue to pile on, compelling them alone to pay for the country's massive deficit while simultaneously chipping away at their safety nets.
You rightwing, deluded morons have made it painfully hard to defend tax cuts and what simply amounts to corporate welfare, for big business, I seriously believe that the only reason you jackasses continue to defend and promote lies is just to save face from telling the American people they've been bamboozled and hoodwinked.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
America's 2-class tax system | Philadelphia Inquirer | 04/17/2011
"We'll know our disinformation program is complete when everything the American public believes is false."
A rare moment of honesty for rightwing Republitards.
One of the more egregious falsehoods being peddled by the corporate tax cutters is that companies doing business in the United States are taxed at an exorbitant rate. Not so. Though the United States has one of the highest statutory rates on the books at 35 percent, the only fair way to measure what companies actually pay is their effective rate - what they ultimately pay after deductions, credits, and assorted write-offs. By that yardstick, companies in the United States consistently pay taxes at rates lower than corporations in Japan and many nations in Europe.
During the 1950s, the decade in which more people joined the middle class than at any time in history - before or since - corporations paid 49 percent of their profits in taxes. Last year, it was about half that rate, a decidedly more modest 26 percent. In 2010, corporate tax collections totaled $191 billion - down 8 percent from $207 billion as recently as 2000.
Perhaps a more telling yardstick, corporate tax revenue in 2009 came to just 1 percent of gross domestic product - the lowest collection level since 1936, or three-quarters of a century ago. In 2010, it edged up to a puny 1.3 percent - the second-lowest since 1940. Even worse, the shriveled tax collections came at a time when corporations were registering an all-time high in profits. At the end of 2010, corporations posted an annualized profit of $1.65 trillion in the fourth quarter. In other words, the more they made, the less they paid.
As for the corporate share of total income taxes paid by businesses and individuals, it has plummeted from 40 percent in 1950, the dawn of Middle America's golden age, to 18 percent last year.
The numbers tell us that a lot of politicians, including would-be presidential candidates, are mathematically challenged.
The corporate numbers also explain why hardworking Americans are on a greased downward slope from which they are unlikely to recover, as long as the lawmakers and deal-makers in Washington not only refuse to ease their plight, but also continue to pile on, compelling them alone to pay for the country's massive deficit while simultaneously chipping away at their safety nets.
You rightwing, deluded morons have made it painfully hard to defend tax cuts and what simply amounts to corporate welfare, for big business, I seriously believe that the only reason you jackasses continue to defend and promote lies is just to save face from telling the American people they've been bamboozled and hoodwinked.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
Why are rightwing monkeytards promoting the lie that federal and public employees are blood suckers living it up that should contribute more while simultaneously promoting tax cuts for the rich and corporate rip off America to create jobs when its obvious that trickle down has trickled into the pockets of the rich who keep getting richer? What are you Republitards doing about that injustice, I thought you Tea Party monkeys are against establishment Republitards? Seems to me that you're both one and the same.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
Why are rightwing monkeytards promoting the lie that federal and public employees are blood suckers living it up that should contribute more while simultaneously promoting tax cuts for the rich and corporate rip off America to create jobs when its obvious that trickle down has trickled into the pockets of the rich who keep getting richer? What are you Republitards doing about that injustice, I thought you Tea Party monkeys are against establishment Republitards? Seems to me that you're both one and the same.
So do explain to us what the libtards have done to help our nation and the millions who are suffering from the train-wreak that is this administration. I see more screaming for more from those who produce...I completely fail to see any effort at all being made to help those who need a hand up instead we see every effort being made to drag everyone else down.
Has the left tried to stop the fiscal nightmare we see today...No instead we see them doing EVERYTHING in their power to increase the problem.
Please do explain what the let has done to heal our Nation....Class warfare isn't healing BTW
Why are rightwing monkeytards promoting the lie that federal and public employees are blood suckers living it up that should contribute more while simultaneously promoting tax cuts for the rich and corporate rip off America to create jobs when its obvious that trickle down has trickled into the pockets of the rich who keep getting richer? What are you Republitards doing about that injustice, I thought you Tea Party monkeys are against establishment Republitards? Seems to me that you're both one and the same.
So do explain to us what the libtards have done to help our nation and the millions who are suffering from the train-wreak that is this administration. I see more screaming for more from those who produce...I completely fail to see any effort at all being made to help those who need a hand up instead we see every effort being made to drag everyone else down.
Has the left tried to stop the fiscal nightmare we see today...No instead we see them doing EVERYTHING in their power to increase the problem.
Please do explain what the let has done to heal our Nation....Class warfare isn't healing BTW
I'm a conservative, not a liberal why ask me that question? lets not get things twisted, Republitards are not true conservatives, they have hijacked thaat to make people think they're the polar opposites of Democrats.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
Why are rightwing monkeytards promoting the lie that federal and public employees are blood suckers living it up that should contribute more while simultaneously promoting tax cuts for the rich and corporate rip off America to create jobs when its obvious that trickle down has trickled into the pockets of the rich who keep getting richer? What are you Republitards doing about that injustice, I thought you Tea Party monkeys are against establishment Republitards? Seems to me that you're both one and the same.
So do explain to us what the libtards have done to help our nation and the millions who are suffering from the train-wreak that is this administration. I see more screaming for more from those who produce...I completely fail to see any effort at all being made to help those who need a hand up instead we see every effort being made to drag everyone else down.
Has the left tried to stop the fiscal nightmare we see today...No instead we see them doing EVERYTHING in their power to increase the problem.
Please do explain what the let has done to heal our Nation....Class warfare isn't healing BTW
Why are rightwing monkeytards promoting the lie that federal and public employees are blood suckers living it up that should contribute more while simultaneously promoting tax cuts for the rich and corporate rip off America to create jobs when its obvious that trickle down has trickled into the pockets of the rich who keep getting richer? What are you Republitards doing about that injustice, I thought you Tea Party monkeys are against establishment Republitards? Seems to me that you're both one and the same.
So do explain to us what the libtards have done to help our nation and the millions who are suffering from the train-wreak that is this administration. I see more screaming for more from those who produce...I completely fail to see any effort at all being made to help those who need a hand up instead we see every effort being made to drag everyone else down.
Has the left tried to stop the fiscal nightmare we see today...No instead we see them doing EVERYTHING in their power to increase the problem.
Please do explain what the let has done to heal our Nation....Class warfare isn't healing BTW
What is it you want? Another stimulus? A check in the mail? Yeah, that would go over big with the people YOU side with like a lead balloon.
and the left has been doing something about this the last 50 years or so....right Bass?..and if you believe they are now......there is only one person here being bamboozled and hoodwinked......you the so-called Conservative.....
So the last bastion of the proven to be bullshit "Trickle Down Theory of Economics" is the Republican Party... Who could have predicted that one?
The fun part is watching people leave the republican party as they look at the graphs of "Tax cuts for the wealthy -vs- Jobs created in the USA" over the last decade.
The sad part is knowing their political choices once they wise up.
if anyone think rich Democrats care about the rest of us......keep dreaming....the rich stick together and i dont care what party they are from.....and if Bass was suddenly worth 50 million....he would be right there with them.....
When GE pays local taxes on purchases they get to write them off as an expense.
When their workers pay local taxes on purchases they do not get to write them off.
When GE pays local real estate taxes, it gets to write them off their bottom line and therefore their taxes.
When GE's workers pay the same taxes, few of them get to write them off because they don't make enough money to enjoy that write off.
When the CEO of GE takes his limo to work GE gets to write off the expense as a cost of doing business.
When his workers drive the cars they bought and paid for (and get taxed like crazy to own and operate, too) they don't get to write that off, either, again because so few of them make enough to itemize their taxes.
I could goo and on citing one example after the other where corporations( mostly by dint of the enormous size of their returns) enjoy TAX breaks few of their workers enjoy.
DEclaing that the rich pay the majorioty of the taxes its taking to keep our society afloat is a big fat LUE by half truth.
A technique of foisting a lie that the supply siders have honed to perfection.
Who really pays most of the taxes that keeps our federal state and local governments going?
The middle class BY FAR, the middle class.
The font of ALL wealth in this nation, folks.
The MIDDLE CLASS.
They get to write it off indirectly through a Standard Deduction. If you don't spend enough to itemize, what's the difference?
Oh, and you need to support your claims with links instead of just saying it's so, especially when they go against the facts so glaringly.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
Yes the Givers and the Takers how sad to think that libtards care so little for our nation and its people that instead of fiding ways to increase the the numbers of givers the libtards instead grow the takers.
Its painfully obvious that this administration could care less about the plight of millions of Americans everything he's done to date has been to take more from our people to give to others'. Has he helped those who have lost their home's...No
How about those that have lost their Job's.....No
Has he found a way to increase the number of job's.......No in fact has done just the opposite.
Yet here we have the libtards screaming for more and more when there is none to given have these same libtards done anything at all to help our Nation..not really they've taken they've demanded more from those of us who productive but not once have the libtards done anything to correct the problems we see today.
Why are rightwing monkeytards promoting the lie that federal and public employees are blood suckers living it up that should contribute more while simultaneously promoting tax cuts for the rich and corporate rip off America to create jobs when its obvious that trickle down has trickled into the pockets of the rich who keep getting richer? What are you Republitards doing about that injustice, I thought you Tea Party monkeys are against establishment Republitards? Seems to me that you're both one and the same.
So do explain to us what the libtards have done to help our nation and the millions who are suffering from the train-wreak that is this administration. I see more screaming for more from those who produce...I completely fail to see any effort at all being made to help those who need a hand up instead we see every effort being made to drag everyone else down.
Has the left tried to stop the fiscal nightmare we see today...No instead we see them doing EVERYTHING in their power to increase the problem.
Please do explain what the let has done to heal our Nation....Class warfare isn't healing BTW
Who the hell is supporting rich Democrats you retard? Your logic of saying "Democrats do it too" doesn't change the reality of what the rightwing monkey Republitards are advocating and lying about, you really think two wrongs makes a right?
What works? When, in recent history, have we had the most economic prosperity in our country, what were the factors? WHAT WORKS? What were the factors during the Clinton years when 22 million jobs were created? What about the "boom" of the 50s?
Democrats have been trying to do something about corporate welfare for decades. Unfortunately, that's where the big guns (lobbyists) spend the most money to protect.
spel:
"We don't have a revenue problem, we have a spending problem."
That is only a half-truth, and they know it. We have BOTH.
I'm a conservative, not a liberal why ask me that question? lets not get things twisted, Republitards are not true conservatives, they have hijacked thaat to make people think they're the polar opposites of Democrats.
"Microsoft, for instance, borrowed $4.75 billion last month by issuing new bonds at rock-bottom interest rates and announced it would use some of that money to buy back shares.Corporate tax receipts plunge 31% in 1st Quarter of 2011:
News Headlines
In case you didn't know, the US Treasury is the place where businesses, who pay taxes quarterly, send their checks to. It's down 31%. That means businesses are making less money. That means business is slowing down. More than likely the double dip recession as the government stimulus wears off.As corporate earnings season fires up, a piece of data from the U.S. Treasury could be a warning shot for stock market investors. Federal corporate income tax receipts plunged 31% in the first quarter of 2011 from a year earlier, a potential indicator of weaker-than-expected Q1 corporate profits.
What's the Liberal idea for fixing this? Take more money from them of course! Which is the exact opposite of what they should do!
Apparently "shared sacrifice" doesn't apply to government.
BULLSHIT! Here's where their "money" went:
U.S. companies buy back stock in droves as they hold record levels of cash
The US has the highest corporate tax rate in the world:
AEI - Report Card on Effective Corporate Tax Rates
Plus, companies have State taxes and when applicable, city taxes. In China and Japan for example, corporations pay their Government tax and that's it!
As an individual I pay Federal, State and City taxes and that aint good either, but I guess that comes under the Liberal idea of "everyone must pay their fair share" and "shared sacrifice". Thanks Leftwing Deluded Morons!
